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Bulgaria uncovered putter

01.09.2007
Author: Maria Zotov
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Golf, one of the most popular sports games in the world, is still a developing sport in Bulgaria. The golf courses currently under construction will turn Bulgaria into an even more attractive country for foreign investors, since the cost of golf real estate here is much lower than in other countries, and the profitability is much higher. The fact that the country has just joined the European Union further fuels interest in this real estate market.
Bulgaria is a country with a high potential for golf development. Thanks to the climate, which is characterized by mild winters, hot sunny summers, as well as warm spring and autumn, golf lovers can enjoy the game for about 10 months a year. And since the number of golfers on a global scale is now growing rapidly, interest in new directions is extremely high. All these factors, together with the boom in the Bulgarian real estate market, give it every chance to take a leading position among the leading golf countries.
There is a very important reason why the creation of a golf course within a residential or resort complex is attractive both for a development company and for real estate buyers. Firstly, golf resorts always have a significant territory where the density of development is not as high as, for example, on such a popular coast as Sunny Beach. In addition, sea and ski resorts have a well-defined seasonality, whereas a golf course next to a beach or ski resort can be used almost all year round.
And another indisputable advantage of Bulgaria is low prices. In recent years, the cost of real estate in the country has already increased significantly, but even now high-end villas and apartments under construction can be bought twice cheaper than similar offers in Spain, Portugal or Cyprus.

All ages are submissive to him
Golf nowadays is one of the most popular and rapidly developing sports. Representatives of all age categories are fond of it, and in foreign countries it is available not only to wealthy people, but also to representatives of the middle class. And although there are no strong golf traditions in Eastern European countries, such as Bulgaria, nevertheless, this region is considered one of the most promising. If 10 years ago few residents of Eastern Europe could afford to play golf, now the situation has changed.
It is believed that the presence of a golf course is a factor that increases the value of real estate, as it attracts a solvent category of buyers and tourists. Thanks to this, golf resorts are a very interesting object for investment. Bulgaria has a competitive advantage among other Eastern European countries – still low real estate prices with good growth potential.
Since golf in Bulgaria is popular mainly among foreign citizens, real estate developers are focused on golf lovers from the EU, Scandinavian countries, middle-class citizens of Bulgaria and wealthy citizens of Russia, Ukraine and the CIS. The height of the golf season in Bulgaria is June, July, August, September, that is, just the period that is not too favorable for playing golf in Spain, Portugal and Cyprus due to the constant heat.

Although there are very few existing golf courses in Bulgaria, the situation should change in a few years. Many Bulgarian residential complexes are being created around golf courses, and developers are attracting world-famous designers to create them. Two golf courses are being built according to the projects of the legendary Gary Player, the other two are designed by Jan Woosnam and one more is designed by the legendary Jack Nicklaus. Despite the fact that the construction of these fields will not be completed until 2008-2009, the projects are already attracting foreign investors rushing to purchase real estate here, while prices are still not very high.

Everyone plays golf
Currently, there are only 3 golf courses in Bulgaria. Two fields belong to Air Sofia. One of these golf courses - Ihtiman Golf Club – was opened in 2000 and is located in the area of Ihtiman, 40 km from the capital and 90 km from Plovdiv. This is the first golf course created in Bulgaria in 2000, it has a certificate of the American Golf Association. The golf course is part of the hotel complex, but everyone can play here. The course is designed for 18 holes, its length is 4 km. After the opening of this golf course, the number of players in Bulgaria has increased many times. Everyone started playing golf – Bulgarians themselves, foreigners, men, women and even children. Another active golf course is located in Sliven, 90 km from the Black Sea coast. It was opened in 2004.

The St. Sofia Golf Club & Spa Golf Resort in Ravno Polje is a great place for business and leisure. The resort is located 15 min. from the center of Sofia. First-class service with excellent golf opportunities creates a favorable atmosphere. The resort was built in 2004 and meets all European standards. The golf course has 18 holes and a length of 6175 m
. The success of these projects has pushed developers to create new golf courses, mainly on the Black Sea coast of Bulgaria. The Black Sea is perhaps the most popular and attractive destination in Bulgaria, which explains the future location of golf projects. Among such projects on the coast are BlackSeaRama & Country Club, Lighthouse Golf Resort, Thracian Cliffs and Summerland Golf & Beach Club.

Both in the mountains and at sea
New golf courses will be put into operation one after another, starting from 2008. In three years, this country will become the undisputed leader in Eastern Europe in terms of the number and quality of golf courses. Two fields are being built in the Kavarna area, another one in Primorsko, near the city of Sozopol. It is planned to build golf courses in mountain resorts - one will be built in the vicinity of Bansko, and a very large golf complex is being created in Dolna Banya – a place located near the town of Kostenets and the resort of Borovets.
One of the most attractive areas for golf development is a picturesque stretch of coastline between the towns of Balchik and Kavarna. This is a new, already quite prestigious and attractive coast. The golf resorts Thracian Cliffs, Black Sea Rama and Lighthouse will be located here. The golf courses were designed by professional players such as Gary Player and Jan Woosnam.
The BlackSeaRama Golf & Country Club complex is a first–class and perhaps the most luxurious golf project in Bulgaria. It is located on the Black Sea coast less than 1 hour drive from Varna International Airport. What makes this project especially interesting is the participation in the development of the golf course and marketing of the legendary Gary Player, the winner of 160 golf tournaments, who is now one of the most successful and sought-after designers.
BlackSeaRama Golf & Country Club is Bulgaria's first world-class golf resort. Its main distinguishing feature is an 18–hole championship golf course, as well as villas and apartments designed in the style of California architecture. As part of the planned construction of a 4-star hotel, which makes this resort year-round. The project is divided into several queues, the completion of which will be carried out at various times. The golf course is scheduled to open in June 2008.
Another project, Thracian Cliffs, was also designed by Gary Player. This resort is located near Kavarna, among the extraordinarily beautiful, huge white rocks. This is one of the most spectacular sections of the Bulgarian coast in terms of beauty. The resort is designed for more than 3,000 guests, who can stay both in hotels and in villa complexes. Construction of the field has started recently, and its opening is expected in spring-summer 2009.
Welshman Jan Woosnam, another legend of world golf, designed two courses in Bulgaria – one near Balchik and Pirin, and the other near Bansko and Razlog. Lighthouse Golf Golf Resort is located near Balchik, its phased commissioning is scheduled for 2007-2008.
The golf course in the Razlog area will occupy about 90 hectares. Its playing length will be 6210 m, it will have 18 holes. The golf course will be crossed by mountain streams, it is planned to create several reservoirs. In the center of the course, near one of these lakes, it is planned to build a golf club building. The resort will be located at the foot of Pirin Mountain, at a distance of only 5 km from Bansko and Katarino resort.
The Ibar Golf, Spa and Ski Resort is 40 minutes away. from the capital and in 15 min. from the Borovets ski resort. This is the first and only project of Jack Nicklaus in Bulgaria. Its uniqueness lies in the fact that it makes it possible to combine mountain skiing, golf and spa – there is nothing like it in the whole of south-eastern Europe. The Ibar Golf Golf Resort offers for sale spacious villas with a number of bedrooms from 2 to 5. The golf course and other services can only be used by property owners or tenants. Now the construction of the project is half finished and more than half of the properties have already been sold. It is assumed that the annual capital gain will be about 30%, and the annual rental income – 7% of the value of the object. The project will be completed in 2008.
Golf real estate is a new direction for Bulgaria. Apparently, it will be no less successful than real estate for sea and mountain holidays. Participation in the projects of the world's best golf designers is the key to players' interest in new resorts. For investors, in turn, this means high profits and good liquidity.

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